[187 Pages Report] Factors driving the steam turbines market include increase in electricity consumption and demand from emerging economies, and the consequent capacity expansions carried out by utilities in the region, particularly thermal power capacity. The global steam turbines market size was estimated to be around USD 14.8 Billion in 2014, at USD 19,292 Million by 2020 and is expected to grow at a CAGR of 4.4% during the forecast period. The steam turbines market is segmented on the basis of its type, application, rated capacity, exhaust type, and region. The years considered for the study are:

Historical Year  2013

Base Year  2014

Estimated Year  2015

Projected Year  2020

Forecast Period  2015 to 2020

For company profiles, 2014 has been considered as the base year for calculating market share and the competitive landscape. Where information is unavailable for the base year, the prior year has been considered.

Research Methodology:

Major regions were identified along with countries contributing the maximum share

Installed capacity powered by steam turbines is categorized. Specific data for each type of power plant, different fuel types used in the plants and type of turbine used was collected and analysed.

Market size for different regions has been calculated by taking into account the geographic break-up of demand and consumption, further validating it with the geographic presence of top steam turbine product and service companies in those regions and their corresponding revenues.

Primary interviews from manufacturers and suppliers helped to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. Information obtained was used to estimate the share of different segments of steam turbines in regional markets.

Key companies revenues (regional/global), product pricing, and industry trends along with top-down, bottom-up, and MnM KNOW were used to calculate market size

The figure below shows the breakdown of the primaries on the basis of company, designation, and region, conducted during the research study.

Study addresses several of the stakeholders which include OEMs, EPC companies, Utility service providers, Distributers & Suppliers, Consulting firms, Private Equity groups, investment houses, equity research firms and other stakeholders. It gives them information about market segments to focus in next two to five years for prioritizing the efforts and investments

Scope of the report:

By Type:

Steam Cycle

Combined Cycle

By Application:

Coal

Nuclear

Biomass

Others

By Rated Capacity

1-120 MW

121-350 MW

351-750 MW

Above 750 MW

By Exhaust Type

Condensing

Non-condensing

By Region

Americas

Europe

Asia-Pacific

Middle East & Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for the report:

Global steam turbine market is projected to grow at a CAGR of 4.4% from 2015 to 2020, to reach a market size of USD 19,292 Million by 2020. The growth is attributed to the continuing investments in electricity generation infrastructure, particularly in the large economies of Asia-Pacific region.

The report segments steam turbines market by fuel type, into coal, nuclear, biomass, and other. Steam turbines in coal power application are expected to be the fastest growing segment during the forecast period. Coal fired power generation continues to remain one of the most affordable option for developing economies in the world, particularly in Asia-Pacific. Moreover, there is sufficient supply of coal for usage as fuel, while other options such as natural gas require creation of new infrastructure for its import and use. Although, the world as a whole is slowly moving away from coal based power generation in view of growing environmental concerns, the transition is expected to be slow and would need syndicated efforts across different economies to take place.

In this report, the steam turbines market has been categorized on the basis of exhaust type into condensing and non-condensing. Condensing steam turbines are the most widely used type, largely due to its higher efficiency and the ability to produce more electricity at comparatively lower operational cost. The market for condensing turbines is also projected to grow at a faster pace than non-condensing ones, particularly due to demand from the large capacity thermal power plants.

Asia-Pacific is the leading market for steam turbines in 2014 with strong demand from China and India. It is also projected to be the fastest growing market with CAGR of 5% during the forecast period. China is expected to be the fastest growing market for steam turbines across the world, followed by India, with a CAGR of 5.7% and 5.5% during the forecast period respectively. These countries account for around 60% of the global thermal power capacity additions projected for the next five years helping drive the market for steam turbines.

Regulatory and policy restrictions on fossil-fuel fired power plants can however, restrain the growth of the steam turbines market. Growing concerns about the negative impact of carbon emissions on climate and consequent measures by regional and country level policies such as capping the amount of emissions acceptable from these plants have led to retirements of existing plants as well as shelving of future construction in favor of other options, even if they are more costly.

Market consolidation through mergers & acquisitions, along with joint ventures and collaborations has emerged as a distinct trend in the market. The recent acquisition of Alstom SAs power systems business by General Electric is an example of this consolidation and is expected to alter the competitive dynamics of the market. The leading players in the steam turbines market include Alstom SA (France), Siemens AG (Germany), General Electric (U.S.), Mitsubishi Hitachi Power Systems (Japan), and Toshiba Corporation (Japan) among others.